Cliff Banks - The Banks Report

Slow Dealer Buy-Sell Pace Continues First Two Weeks of June

June 14, 2016 — (UPDATED June 16) Of the nine dealership acquisitions through the first two weeks of June, four occurred in the Denver market. In two separate transactions last week, the Larry H. Miller Group acquired three stores from Doug Moreland — Cherry Creek Dodge in Denver, Fiat of Denver and Colorado Chrysler Jeep of Aurora… Continue Reading

Air Bags and Dealer Buy-Sells?

Air Bags and Dealer Buy-Sells?

June 13, 2016 — The collateral damage resulting from the Takata airbag disaster likely will start affecting dealership buy-sell activity at the public group level for the near future. The issue is the number of used vehicles that currently are in inventory at the public dealer groups that cannot be sold because of the recall. The…

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Dealer Buy-Sell Market Slows Down

Dealer Buy-Sell Market Slows Down

May 31, 2016 — With only 86 transactions through May of 2016, the dealership buy-sell market appears to be slowing down from the record-setting pace in 2015 in which The Banks Report recorded 107 transactions over the same period. The number of rooftops changing owners is also down significantly with 149 this year compared with 222…

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What We Learned From Holman’s Acquisition of Kuni

What We Learned From Holman’s Acquisition of Kuni

Last week’s announcement that Holman Automotive is acquiring the Kuni Automotive Group is significant on numerous levels. The Banks Report, which broke the news of the deal, estimates that it is the biggest dealer acquisition since Warren Buffett’s purchase of the Van Tuyl Automotive Group in March of 2015. So what does the deal mean for…

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Holman Automotive to Acquire Kuni Automotive

Holman Automotive to Acquire Kuni Automotive

April 11, 2016 — The Holman Automotive Group will announce tomorrow morning that it is acquiring Kuni Automotive, The Banks Report has learned. The acquisition brings together two storied automotive companies and creates one of the country’s largest privately held dealer groups with 33 dealerships located in eight states generating more than $3 billion in annual revenue.… Continue Reading

Public Dealer Group Buy-Sell Activity to Slow; Private Activity Hot

Public Dealer Group Buy-Sell Activity to Slow; Private Activity Hot

March 31, 2016 — From January 2013 to December 2015, the six public dealer groups acquired 149 new car dealership rooftops, including 24 stores in Brazil, Spain and the United Kingdom, adding an approximate $8.7 billion in revenue over the three years. The acquisitions comprise 15% of the 1,002 total buy-sells tracked by The Banks Report the last three years.…

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Cliff Banks - The Banks Report

Group 1 Buying and Selling

February 6, 2016 — Group 1 Automotive continues to trim its presence in the Northeast divesting of three dealerships there within the last several weeks. Meanwhile, the nation’s third largest dealer group announced this week it has completed the acquisition of the 12-store Spire Automotive Group located in metro London in the United Kingdom. At the end of… Continue Reading

Two Luxury Dealership Buy-Sells Close Out 2015

Two Luxury Dealership Buy-Sells Close Out 2015

January 11, 2016 — Acquisitions of an Audi dealership in Austin, TX and a Mercedes Benz store in Freehold, NJ closed out 2015 in what was a record year for dealership buy-sells. Approximately 470 dealerships changed hands according to data compiled by The Banks Report which will be published in the TBR 2015 Dealership Buy-Sell Report…

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Penske Automotive Makes Investment Play in Japan

Penske Automotive Makes Investment Play in Japan

January 8, 2016 — The Penske Automotive Group announced yesterday that it has made an investment in the Japanese dealer market. It’s not an outright acquisition, but the dealer group has taken a 49% equity position in the Nicole Group, a four-store luxury group selling BMW, MINI, Rolls Royce and Ferrari brands in Tokyo and Kanagawa. The… Continue Reading